Australia’s Algae.Tec lists on the ASX
23 January 2011
Algae.Tec Limited, an Australian biofuels company with what it calls a highly-efficient algae growth and harvesting system (the McConchie-Stroud System), recently listed on the Australian Stock Exchange (ASX). Algae.Tec CEO Roger Stroud said Algae.Tec will be the first algae company to list on a main board stock exchange in the world, and one of the few cleantech companies to list in Australia.
The McConchie-Stroud System is designed to produce valuable sustainable bio-fuels, including biodiesel and bio-jet fuels, said Stroud. The technology can also capture CO2 emissions from power stations and manufacturing facilities which feed into the algae growth system.
Algae.Tec has two MOUs (memoranda of understanding) to deploy the technology in China and Australia. Additionally, the company has an MOU with Leighton Contractors for engineering and project management expertise. The first demonstration plant is planned for The Manildra Group’s Nowra facility in NSW (New South Wales, Australia).
The McConchie-Stroud System uses low-maintenance technologies and an efficient solar system to produce algae in one-tenth of the land surface as compared to the current pond method for producing algae, the company says.
The photo-bioreactors which are at the heart of the McConchie-Stroud algae production technology are designed to generate four revenue streams:
- oils which can be refined into biodiesel;
- carbohydrates (sugars) that can be used in the production of ethanol;
- proteins that can be used as feedstock for farm animals; and
- protein and carbohydrate biomass that can be combined to produce jet fuel.
Algae.Tec was founded in 2008 with offices in Atlanta, Georgia and Perth, Western Australia.
Comments